DIY Bookkeeping Is A Bad Idea

DIY bookkeeping is a bad idea for the untrained and I’ll tell you why…

Software doesn’t unfortunately make bookkeeping as simple as the TV ads would have you believe.

Connecting your bank account and downloading the transactions directly into your software is all well and good.

But when you’re matching, allocating and reconciling without any understanding of double-entry bookkeeping, then frankly you’ve no idea what’s happening to your ledgers behind the scenes.

Chances are you’re creating a right old mess for your accountant to sort out at the end of the year, and that’ll cost you more than just money.

Because the viability of your business is dependent upon these three things:

1/ Your processes and procedures for dealing with sales, purchases, customers and suppliers, banking, and so on.

2/ The way you manage cash flow and set budgets, prices, KPIs, etc.

3/ How your accounts and management reports are produced, and their reliability when using them to assess your business’ performance and make important financial decisions.

All of this takes time and effort to establish and manage effectively. But if your books are a mess you don’t have reliable data on which to base decisions that could make or break your business.

So forget about DIY bookkeeping, the smart choice is to invest in a bookkeeper.

Not just any old bookkeeper – you deserve a bookkeeping professional who’ll answer the phone when you call and make being there to support you a priority no matter what!

Work with me, and you’ll get bookkeeping, invoicing, credit control, VAT and payroll done for you – and more.

For example, I’ll give you real-time management reports whenever you want them. Reliable reports you can use to analyse your business and make key decisions. Decisions like whether or not to increase prices, take on extra staff, or buy new premises and equipment.

So while I don’t guarantee that you’ll 10x your business, the ROI does include having more time to focus on growth and revenue generation.

And you’ll enjoy the peace of mind that comes from knowing you’re tax compliant.

Need a little help?

My Accounting Emails are for business owners who want a better understanding of their financial position. They’ll help you manage your cash flow and stay in the black.

GET MY EMAILS

Need more help?

Contact me today and we’ll talk about the help you need.

CONTACT ME

Photo credit: Priscilla Du Preez on Unsplash

“As a small business it is important to always have financial clarity and often it is difficult to try and do this yourself. Paul has worked with us for several years and has streamlined and organised all of our accounting systems. He provides us with a complete accountancy service and is very professional in his approach as well as being a likeable guy.” - D. Walsh, Director. DualTEC Services Limited, Keighley.
(Google review)
“Paul has done a great job putting my accounts on to Sage Business Cloud, and also got a discount for me. I like that the software is MTD compatible and I can access it from anywhere. Paul sorts out all my invoices, does my bookkeeping and produces reports every quarter (or whenever I need them). He is friendly, reliable and easy to work with - it's good to have him on board." - C. Milne, Proprietor. CAM Properties, Carnforth.
(Google review)
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